A trust is an estate planning tool that allows you to leave your estate to certain individuals or organizations. A trust does not go through probate so it is effective as soon as you die. It is also not a public document. Oftentimes, it is used as a way to defer and avoid certain estate taxes. There are many different kinds of trusts, and they serve different purposes.
Some of the reasons to consider getting a trust include minimizing estate taxes, providing for special needs’ children, asset protection from Medicaid liens, and avoiding probate. I can discuss your various options and help you decide if a trust is right for you, and if so, what kind you should have as part of your estate planning.
Contact me today so I can help you figure out if trusts work for your estate plans.